taxes | ForkLog

ForkLog 8 07.02.2024

Thailand Abolishes VAT for Cryptocurrency Trading

Thailand’s Ministry of Finance has announced the removal of value-added tax (VAT) on cryptocurrency trading, reports the Bangkok Post. The ministry aims to transform the country into a hub for digital assets and promote them as an alternative tool for capital attraction. The authorities also expect that this decision will support the growth of the […]

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ForkLog 13 05.02.2024

Spain Proposes Seizing Crypto Assets for Tax Debts

Spain’s Ministry of Finance intends to enhance its oversight of crypto assets to enable their confiscation for settling tax debts, according to El Economista. The initiative is part of reforms to the General Tax Law. A Royal Decree that took effect on February 1 expanded the number of organizations authorized to collect taxes. Previously, only […]

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ForkLog 17 01.02.2024

Legal Experts Identify Crypto-Friendly Tax Jurisdictions

The law firm Manimama analyzed the tax systems of various countries to determine which are most favorable to cryptocurrency holders. The experts identified seven jurisdictions offering incentives to participants in the crypto market. These include: Lithuania: a basic corporate tax rate of 15%, with 0-5% for small businesses. Capital gains tax does not apply to […]

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ForkLog 15 01.02.2024

Ukrainian MP Suspected of Misappropriating Cryptocurrency Worth 24 Million UAH

NABU and the SAP have announced a suspicion against a Ukrainian Member of Parliament, who allegedly provided false information regarding cryptocurrency ownership in his 2020 declaration. According to local media, the individual in question is Oleksandr Marikovskyi, a member of the Servant of the People faction. The case materials indicate that in 2020, the MP […]

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ForkLog 13 31.01.2024

Argentina Withdraws Crypto Asset Amnesty Bill

The Argentine authorities have abandoned a tax amnesty proposal for cryptocurrencies. The initiative would have allowed recognition of ownership rights and exempted assets valued up to $100,000 from tax consequences, according to Bitcoin.com. Under the proposal, assets exceeding this limit would be taxed at 15%. Its implementation could have reduced government administrative costs. The proposal […]

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ForkLog 10 30.01.2024

Ukrainian Official Earns ₴19 Million from Cryptocurrency Trading Over Two Years

Ukraine’s Minister for Strategic Industries, Oleksandr Kamyshin, declared over ₴17.4 million from cryptocurrency sales in 2023. In 2022, the official’s income from digital asset sales exceeded ₴1.8 million. At that time, his Bitcoin wallet held more than 25.4 BTC. Kamyshin keeps his assets on the Binance exchange. According to his latest declaration, his portfolio includes: […]

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ForkLog 21 29.01.2024

Russia Evaluates Potential Tax Revenue from Bitcoin Mining

The tax potential of mining in Russia, with the introduction of balanced regulation, is estimated at 50 billion rubles annually after 2025. This was reported by TASS, citing a statement from Sergey Bezdolov, Director of the Industrial Mining Association. According to his data, Russian miners consume about 2.5 GW of electrical power. Of this, 1.7 […]

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ForkLog 10 27.01.2024

Ukrainian Politician Vitaliy Kim Declares Bitcoin Holdings

The head of the Mykolaiv Regional State Administration, Vitaliy Kim, declared 0.71 BTC (approximately $30,000 at the time of writing). Source: NACP. According to the declaration, the asset is owned by the politician’s wife, Yulia Kim. The bitcoin, acquired on March 16, 2022, is stored on the cryptocurrency exchange Binance. Earlier in January, the candidate […]

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ForkLog 16 18.01.2024

Ukrainian Official Declares Investments in 31 Cryptocurrencies

Candidate for the head of Ukraine’s National Agency on Corruption Prevention (NACP), Kateryna Kaplyuk, declared 31 crypto assets with a total purchase value of 167,601 UAH. Journalist Kaplyuk worked at the NACP from 2020 to 2022, initially as an external advisor to the head of the agency, Oleksandr Novikov, and later as the chief specialist […]

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ForkLog 8 29.12.2023

Crypto taxes included in Ukraine’s National Revenue Strategy

The Ukrainian government has approved the National Revenue Strategy for 2024-2030. Among other provisions, it envisages regulating the circulation of virtual assets.

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ForkLog 7 25.12.2023

Japan to scrap tax on unrealised crypto profits

Japan's Cabinet approved a bill that would exempt companies from paying tax on unrealised profits from deals with digital assets.

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ForkLog 36 22.12.2023

Kazakhstan lowers tariffs for Bitcoin miners

From 1 January 2024, amendments aimed at reducing the financial burden on cryptocurrency exchanges and mining enterprises will come into force.

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